Euro area annual inflation rises to 2.4% in December

ANKARA

The eurozone's annual consumer inflation rate rose to 2.4% in December 2024, driven by energy prices reversing declines of previous months, according to flash estimates released on Monday.

Headline inflation climbed from 2.2% in November, reaching its highest level in five months, Eurostat data showed.

Energy prices inched up 0.1% year-on-year in December, marking a shift from the decreases seen since July.

Core inflation, which excludes volatile food and energy prices, remained stable at 2.7% in December compared to the previous month.

Services continued to have the highest annual inflation rate in December at 4%, up slightly from November's 3.9%.

On a monthly basis, the eurozone consumer price index climbed by 0.4%, reversing the 0.3% decline seen in November.

Energy prices in the single-currency area gained 0.6% month-on-month in December.